Forex Paris was launched on 23 March 2021. It is sold on the MQL5 website for a price of $349, which is quite expensive compared to the market average. You can also rent this EA for 1 month at $199, or download the free demo version of the software for testing purposes.
According to the vendor, this EA uses a 2-in-1 dynamic and adaptive algorithm that allowed it to attain profitability of more than 99% in backtests. Every week, this robot opens multiple trades and closes them on the same day. As per vendor claims, this EA avoids using dangerous strategies.
The developer behind Forex Parisi is Ruben Octavio Gonzalez Aviles, a trader based in Switzerland. We don’t have much information about this individual, so we have no idea about what kind of trading experience he possesses if any. Apart from Forex Paris, this person has built systems like Miami Static, Tokyo, Cairo, and Kyoto.
Forex Paris At a Glance
|Trading Platforms||MT4, MT5|
|Currency Pairs||GBP/USD, EUR/USD|
|Recommended Deposit||Not mentioned|
|Recommended Leverage||Not mentioned|
Forex Paris Functionality
Forex Paris has a dedicated Telegram group where trading discussions take place. With every trade, this EA uses a fixed stop loss and take profit. These values can be customized by the user, but the vendor recommends not altering them. The robot always conducts one trade at a time.
There are two distinct algorithms built into this EA, one for the EUR/USD and the other for the GBP/USD pair. The EA applies the suitable logic based on the pair you have chosen. According to the vendor, it is possible to use this system for trading in other currency pairs. The default logic for the EUR/USD pair is applied for them. You can use any timeframe chart while trading with Forex Paris.
There are several customizable parameters when it comes to this robot. You have the option of enabling the Dynamic Lot parameter to automatically select a lot size based on the balance. Other input parameters include Stop Loss in terms of pips, Take profit, Maximum Spread, Maximum Lot, Magic Number, and Trade Comment.
This EA also has a Static Mode that you can use if you wish to trade with a fixed lot. For this, you need to set the value of the maximum lot to the calculated lot.
Forex Paris Trading Strategy Tests
On the official website, the vendor has not provided any explanation for the trading strategy used by Forex Paris. Strategy insight is something that is considered vital by most Forex traders, thus the lack thereof might deter many of them from investing.
Here we have the backtesting results for the Dynamic Mode. This test was conducted from January 2016 to March 2020, and in that time 609 trades were placed. Out of them, 603 were closed in profit, which represents profitability of 99.01%. The relative equity drawdown for this backtest was marginally high at 28.63. To us, these results do not look genuine, and it is highly likely that the vendor has manipulated them.
What About Forex Paris Live Trading Results
We don’t have the live trading results available for this Forex EA. Without live trading results, it is impossible to trust a system, especially one that has been around for only a few months. All Forex traders look for verified trading statistics, so this is definitely a major red flag.
There are no customer reviews for Forex Paris on third-party review websites. On the MQL5 website, there are several negative customer reviews for this robot, which tells us that it is probably a scam.
Forex Paris ReviewForex Paris Review
Functionality3/5 NeutralThere are two different modes for this EA and the input parameters can be customized by the user.
Trading Strategy1/5 AwfullyWe have no idea what kind of strategy this robot uses, which is quite disappointing.
Live Results1/5 AwfullyThe vendor has not provided us with any verified live statistics for this EA.
Customer Support3/5 NeutralSupport is provided by the vendor through the dedicated Telegram channel.
User Reviews1/5 AwfullyThere are no verified user reviews for this robot, and the ones on the MQL5 website are negative.
- Dynamic and fixed lots
- No live trading results
- Lack of strategy insight
- Too expensive